Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Ericsson and Nokia fall after Motorola warning

Share this article

13:07 CET+01:00
Telecoms shares fell heavily in opening trading on the Stockholm exchange following a profits warning from American mobile giant Motorola.

Nokia fell immediately by 3 percent, while Ericsson fell 1 percent.

Motorola issued a profits warning late on Thursday evening Swedish time. The warning had most impact on Nokia, because the two companies compete in the same low-price mobile handset segment.

Analyst Urban Ekelund said Sony Ericsson was not as badly affected by the news because it is more focused on premium mobile phones.

Motorola's chief executive Ed Zander said the company was "very disappointed" with the company's performance in the fourth quarter of 2006. It said it now expected sales of $11.6-11.8 billion, compared with an earlier prognosis of $11.8-12.1 billion, with expected profits down to between 13 and 16 cents per share.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement